The broker has been fully authorized by the Financial Markets Authority (FMA) in New Zealand since 2020, and registered on the Financial Services Provider Register (FSPR) since the end of 2014. The BlackBull Markets brand also holds a license in the offshore island nation of Seychelles with the Financial Services Authority (FSA). In May 2023, BlackBull Markets received an investment from Milford Asset Management, a prominent private equity firm in New Zealand, which included the appointment of an independent Chairman. Traders can request withdrawals from the secure back office of BlackBull Markets in a straightforward process, usually completed within 24 hours except for bank wires. Traders have access to customer support 24/7 via live chat, which I find the most convenient form to connect.
How does BlackBull Markets make money?
Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. For example, the addition of quizzes and progress tracking features could help BlackBull further improve its educational offering for retail traders.
BlackBull Markets: In-Depth Review
A phone number, including a toll-free for New Zealand, and nine e-mail addresses are also listed, one with support in xcritical Chinese. I appreciate the transparency at BlackBull Markets, as fully detailed contact information is provided. BlackBull Markets is a well-regulated and compliant Forex broker.
BlackBull Markets offers a good variety of social trading sources like ZuluTrade or MyFXBook. The BlackBull CopyTrader is completely free either to join or xcritical website to use. There’s also no minimum deposit needed to start copy trading their signal providers.
New traders must submit a copy of their ID and a proof of residency document dated within the past three months. BlackBull Markets offers a free VPS subscription if your trading volume exceeds 20 lots per month, in Forex currency pairs or Metals. Blain Reinkensmeyer has 20 years of trading experience with over 2,500 trades placed during that time.
BlackBull Markets Review
- Steven Hatzakis is the Global Director of Online Broker Research for ForexBrokers.com.
- Founded in 2014, BlackBull Markets is a forex and CFD broker headquartered in New Zealand.
- I like the trading experience at BlackBull Markets due to its competitive cost structure and excellent trade execution.
- Considerable progress has been made in the broker’s research offering, though BlackBull Markets still trails behind the best forex and CFD brokers in this category.
- Free VPS hosting from NYC Servers or BeeksFX is available for ECN Prime accounts with trading volume above 20 lots, which is an offer I find reasonable.
- A typical raw spread of only 0.1 pips during the London/New York overlap is very competitive and an excellent offer from BlackBull.
If you trade other symbols, like indices, or metals, the maximum lot sizes may vary. The only condition is that you have enough funds and your copy-trading parameters allow it. You are allowed to do copy trading on your BlackBull Markets account. Net accounts are especially useful when you want to be able to add and reduce your position size. There are no restrictions against hedging with your BlackBull Markets account. Your account balance also must be at least $2,000 if you want to get the free VPS.
ForexBrokers.com has been reviewing online forex brokers for over eight years, and our reviews are the most cited in the industry. Each year, we collect thousands of data points and publish tens of thousands of words of research. BlackBull Markets offers multiple platforms, including the full MetaTrader suite (MetaTrader 4 and MetaTrader 5), cTrader, TradingView, and multiple social copy trading apps. I appreciate the flexibility at BlackBull Markets for deposits, as after the initial deposit, follow-on amounts remain at the discretion of traders.
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